Hungary: Canned Meat Market 2024

Canned Meat Market Size in Hungary

The Hungarian canned meat market fell notably to $X in 2021, reducing by -66.8% against the previous year. Overall, consumption faced a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Canned Meat Production in Hungary

In value terms, canned meat production dropped significantly to $X in 2021 estimated in export price. Over the period under review, production showed a abrupt slump. The growth pace was the most rapid in 2013 when the production volume increased by 24%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Canned Meat Exports

Exports from Hungary

In 2021, approx. X tons of canned meat were exported from Hungary; surging by 14% compared with 2020. Overall, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +115.7% against 2012 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 21% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, canned meat exports skyrocketed to $X in 2021. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.0% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Austria (X tons), Romania (X tons) and the UK (X tons) were the main destinations of canned meat exports from Hungary, together accounting for 43% of total exports. Germany, the Czech Republic, Canada, Italy, Serbia, Croatia, Slovakia, Belgium, Latvia and Bulgaria lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +197.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Austria ($X) and Germany ($X) appeared to be the largest markets for canned meat exported from Hungary worldwide, with a combined 44% share of total exports. These countries were followed by Romania, Italy, the Czech Republic, Canada, Belgium, Slovakia, Croatia, Serbia, Latvia and Bulgaria, which together accounted for a further 42%.

Canada, with a CAGR of +160.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average canned meat export price stood at $X per ton in 2021, picking up by 9.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Meat Imports

Imports into Hungary

In 2021, overseas purchases of canned meat decreased by -6% to X tons, falling for the second year in a row after four years of growth. Over the period under review, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.1% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 20%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, canned meat imports declined modestly to $X in 2021. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Imports peaked at $X in 2020, and then shrank modestly in the following year.

Imports by Country

Poland (X tons), the Czech Republic (X tons) and Slovakia (X tons) were the main suppliers of canned meat imports to Hungary, together comprising 62% of total imports. These countries were followed by Germany, Serbia, Austria and Romania, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +162.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and the Czech Republic ($X) appeared to be the largest canned meat suppliers to Hungary, with a combined 55% share of total imports. These countries were followed by Austria, Slovakia, Serbia and Romania, which together accounted for a further 33%.

Serbia, with a CAGR of +148.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average canned meat import price stood at $X per ton in 2021, increasing by 6.1% against the previous year. Over the last nine years, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2017 when the average import price increased by 11%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :